Experts believe that spot power price soared mainly due to higher demand and lower supplies as there were buy bids for 386 million units (MU) against sell bids of 309 MU in the trading held on Wednesday at IEX

The electricity price surged in the DAM at the IEX due to higher demand and lower supplies as there were buy bids for 265 million units (MU) against sell bids of 200 MU in the trading held today at IEX

"One suggestion which is on the table is to allow countries like Bhutan who are exporting power to participate in the exchanges. So, we are looking at examining it in consultation with the Ministry of External Affairs,” power secretary A K Bhalla said.

"One suggestion which is on the table is to allow countries like Bhutan who are exporting power to participate in the exchanges. So, we are looking at examining it in consultation with the Ministry of External Affairs,” power secretary A K Bhalla said.

The renewable purchase obligation (RPO) is mandated by central/state regulatory commission and is applicable to power distribution companies, open access consumer and captive consumers. They are under obligation to buy RECs from renewable energy producers to meet this norm.

In March 2018, the day-ahead market at India Energy Exchange (IEX) witnessed a trade of 3,955 million units (MU), an increase of about 19% from 3,326 MU traded in February 2018 and about 18% increase over 3,364 MU traded in March 2017.

"The average Market Clearing Price (MCP) discovered in Day-Ahead Market at IEX for December was at Rs 3 per unit, about 15 per cent lower than the price in November'17 which was Rs 3.55 per unit," the exchange said in a statement said.